Month: March 2021

Take a look into the not-so-distant future – a mere decade from now: 2030. Imagine Pakistan’s progress, both in terms of human development and its economy. Now consider how we get there. One thing will become clear: the roadmap must ensure sustainable growth of the power sector by addressing electricity access and affordability for all. Pakistan’s ailing Energy Security Policies Over the past few decades, the failures of Pakistan’s energy policies have resulted in a severe power crisis that has immensely impeded the country’s economic performance. In the late 2000s, power shortages reached…

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ISLAMABAD: The Executive Committee of the National Economic Council (ECNEC) has approved approves 12 projects worth Rs267 billion. The ECNEC meeting was held under the chair of Finance and Revenue Minister Dr Abdul Hafeez Shaikh on Thursday to delibarte upon projects related to health, communications, irrigation, disaster management, livelihood support, locust control and water supply. According to a press statement, the cabinet forum approved the Locust Emergency and Food Security (LEAFS) Project at an estimated cost of Rs31.6 billion ($200 million). The LEAFS Project will respond to food security threats caused…

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Another 90 paisas per unit have been approved as monthly Fuel Charges Adjustment (FCA) for January 2021, continuing with the trend that started in July 2020. The monthly FCA so far in FY21 has averaged a little over Re1 per unit. With international energy commodity prices moving sharply north, it appears the upcoming monthly FCAs could well be on the higher side. Bulk of the January 2021 FCA is allowed on provisional basis, as the month saw highest RFO based generation in over two years – and the highest for…

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ISLAMABAD: Power Division is said to have opposed payment of Net Hydel Profit (NHP) to provinces on the basis of the AGN Kazi formula, saying that it will increase circular debt by Rs 500 billion per annum, well-informed sources told Business Recorder. The opposition of the AGN Kazi formula was one of the reasons for the removal of former Secretary Power, Irfan Ali who retired as OSD last month as he was not given any posting after removal from the post of Secretary Power. The government has realized circular debt…

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